Archive: Alicia H. Munnell
We, too, should restore balance to our system, but inequality precludes an across-the-board increase. Denmark recently raised its retirement age to 70 for Danes born in 1971 or later. Should we do the same thing? The answer is two-fold. On the one hand, Congress should enact legislation to restore balance to our Social Security system,…
Here’s what it means for the program’s costs The 2025 Social Security Trustees Report confirms what has been evident for almost three decades – namely, Social Security is facing a 75-year financing shortfall that currently equals 1.3 percent of GDP. And, if no action is taken before 2033, the depletion of reserves in the retirement…
